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The Big Question of Feasibility Benjamin Burkhart BKB Properties 2008 Southeastern Self Storage Convention
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2008 Myrtle Beach, SC Three Areas of Feasibility Site Selection Market Dynamics Financial Performance Opportunities/Risks
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2008 Myrtle Beach, SC Measuring Risks Supply & Demand Lease-Up/Absorption Development Budget Financial Performance Site Quality Local Horizon Objectivity!!!
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2008 Myrtle Beach, SC Critical Piece of the Puzzle Investor Package Loan Request Design Team Management Team Promotion Initiatives Exit Strategy
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2008 Myrtle Beach, SC Site Selection Rifle Approach Get A BIG road map Get a Zoning map Identify traffic patterns Plot Competitors Find Holes Go There!!!
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2008 Myrtle Beach, SC Site Research Zoning Environmental Long-Term Growth Plans Setbacks Utilities
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2008 Myrtle Beach, SC Site Planning Drive Aisles Access Visibility Signage Code Issues Turning Radius Site Features Traffic
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2008 Myrtle Beach, SC Demographic Analysis Primary Market Population Households % of Renters Household Income Other population statistics
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2008 Myrtle Beach, SC Competitor Analysis Competitor Strength MANAGER!!!!!!!!!!! Age & Appearance Location Management Style Features & Benefits Rates Size & Occupancy
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2008 Myrtle Beach, SC Competitor Analysis
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2008 Myrtle Beach, SC Competition
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2008 Myrtle Beach, SC Competitor Data
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2008 Myrtle Beach, SC Construction Goals Let’s Be Realistic Market Demands Type of Construction Hurdles Approvals Process & Red Tape Phasing
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2008 Myrtle Beach, SC Financial Feasibility Capital Requirements Development Costs Cash Flow Deficit Interest Expense Operating Expenses Pro-forma Lease-Up Sensitivity Analysis Exit Strategy
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2008 Myrtle Beach, SC Development Budget Design Costs Soft Costs Hard Construction Start-Up Construction Interest Cash Flow Deficit Contingency
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2008 Myrtle Beach, SC Condensed Budget
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2008 Myrtle Beach, SC Unit Mix Analysis
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2008 Myrtle Beach, SC Operating Expenses
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2008 Myrtle Beach, SC Cash Flow Analysis Cost of Operations Real Estate Taxes Interest/Debt Repay Seasonal Fluctuations Lease Up Monthly Rentals Rate Structure Discounts
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2008 Myrtle Beach, SC Cash Flow Analysis
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2008 Myrtle Beach, SC Sensitivity Analysis What If Rents Decline? What about Discounts? Interest Expense Local Economy Slower Lease-Up Cost of Operations
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2008 Myrtle Beach, SC Sensitivity Analysis
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2008 Myrtle Beach, SC Interpreting Data How it all fits together Red Flags Site, Market, Financials Identifying and Mitigating Risks SWOT- Internal/External
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2008 Myrtle Beach, SC Execution Team Building Design GC/Project Management Bidding Scheduling Financing Managing Promoting Marketing
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2008 Myrtle Beach, SC Exit Strategy Best & Worst Case Scenarios Refinancing--- Timing & Structure When to Sell/If to Sell External Influences Things Forever Change
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2008 Myrtle Beach, SC Biggest Mistake/Biggest Opportunity Who’s driving your ship? You get what you pay for. Train your managers.
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2008 Myrtle Beach, SC BKB Properties Benjamin K. Burkhart Ben@storagestudy.com 804-598-8742
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